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JSW Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 05, 2008, inter alia, has recommended transacted the following:1. Dividend at the stipulated rate of 10% on the 27,90,34,907, 10% Cumulative Redeemable Preference Shares of Rs 10 each & 11% on the 99,00,000, 11% Cumulative Redeemable Preference shares of Rs 10 each (11% CRPS) along with arrears for the period March 10, 2007 to March 31, 2007 on the said 11% CRPS of the Company has been recommended for the year ended March 31, 2008.2. Dividend at the rate of 140% amounting to Rs 14 per equity share on the 18,70,48,635 Equity Shares of Rs 10 each of the Company has been recommended for the year ended March 31, 2008.Further the Company has informed that, the Register of Members & Share Transfer Books of the Company will remain closed from May 23, 2008 to May 27, 2008 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the company.